Is war necessary for economic growth?

military procurement and technology development by Vernon W. Ruttan

Publisher: Oxford University Press in New York

Written in English
Cover of: Is war necessary for economic growth? | Vernon W. Ruttan
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  • United States.


  • Technological innovations -- Economic aspects,
  • High technology -- Military aspects,
  • Economic development,
  • Defense industries -- Economic aspects -- United States,
  • Technological innovations -- Economic aspects -- United States,
  • High technology industries -- United States

Edition Notes

Includes bibliographical references.

StatementVernon W. Ruttan.
LC ClassificationsHC79.T4 R878 2006
The Physical Object
Paginationp. cm.
ID Numbers
Open LibraryOL3395666M
ISBN 100195188047
LC Control Number2005007551

An important book. Buy now. 5. After the Storm by Vince Cable: £, Atlantic. Part memoir, part work of economics, Vince Cable’s latest is not Author: Sean O'grady. The s comedy show Laugh-In included an occasional sketch in which co-host Dan Rowan played a comic general whose tag-line was "war is good .   Economic growth creates higher tax revenues, and there is less need to spend money on benefits such as unemployment benefit. Therefore economic growth helps to reduce government borrowing. Economic growth also plays a role in reducing debt to GDP ratios. A long period of economic growth in the post-war period helped reduce the UK debt to GDP ratio. The book is designed as a textbook for people with limited previous contact with economic concepts, which can be slightly annoying at times. None the less it is a perfect introductory book on the subject of economics and war for those who wish to explore but lack the economic background to just pick up something more in by:

  War Economy: The organization of a country's production capacity and distribution during a time of conflict. A war economy must make substantial adjustments to its consumer production in order to Author: Will Kenton.   Second, is growth of 4 percent per year necessary for the American economy to succeed? Cowen makes a fairly convincing argument that preparing for war has led to increased growth since the end of. Economic growth, the process by which a nation’s wealth increases over time. Although the term is often used in discussions of short-term economic performance, in the context of economic theory it generally refers to an increase in wealth over an extended period.. Growth can best be described as a process of transformation. This is a question that has long been debated by economic, political, and historical analysts. It has divided these researchers into two groups, a group of analysts mostly American such as David Broder and Hugh Rockoff who believe that war leads to an increase in GDP and productivity and a decrease in unemployment, thus wars are good for the economy and ultimately lead to economic growth.

  With World War II ending, President Franklin Delano Roosevelt was concerned about the potentially damaging economic impact of million veterans returning home, looking for scarce jobs and.   At the cross-country level, there is a correlation between economic growth and rising international trade.; Some of the most cited papers in this field (e.g. Frankel & Romer and Alcalá & Ciccone ) rely on long-run macroeconomic data and find evidence of a causal relationship: trade is one of the factors driving economic growth. 1 Other important papers . Post-War Economic Growth in the Group-of-Five Countries: A New Analysis Michael J. Boskin, Lawrence J. Lau. NBER Working Paper No. Issued in November NBER Program(s):Economic Fluctuations and Growth An inter-country aggregate production function is estimated using annual data for the post-war period drawn from the Group-of-Five (G-5) .   Like It or Not, Spending on War Is Good for the Economy are the GDP numbers. If the economy is growing at 4% as opposed to, say, %, there will be a reaction in the markets. the Fed will.

Is war necessary for economic growth? by Vernon W. Ruttan Download PDF EPUB FB2

A third and more disturbing question is whether a major war, or the threat of major war, will be necessary to mobilize the scientific, technical, and financial resources necessary to induce the development of new general-purpose by: In each of these industries, technology development would have occurred more slowly, and in some case much more slowly or not at all, in the absence of military and defense-related procurement.

The book addresses three questions that have significant implications for the future growth of the United States economy/5. In each of these industries, technology development would have occurred more slowly, and in some case much more slowly or not at all, in the absence of military and defense-related procurement.

The book addresses three questions that have significant implications for the future growth of the United States economy. In his latest book, Is War Necessary for Economic Growth?, he ostensibly seeks to establish the relationship, if any, between the U.S. government’s preparation for or engagement in warfare and the creation of new general-purpose technologies that contribute to increasing the rate of economic growth.

Will a major war, or the threat of major war, be necessary to mobilize the scientific, technical, and financial resources necessary to induce the development of new general-purpose technologies. It argues that when the history of U.S. technology development over the next half century is written, it will focus on incremental rather than revolutionary changes in both military.

Changes in the structure of the defence industries and of the U.S. industrial economy make it unlikely that military and defence related procurement would again become an important source of revolutionary new technologies in the absence of a major war.

Book Review; Published: 01 October ; Is War Necessary For Economic Growth. Bryan C McCannon 1 Eastern Economic Journal vol Author: Bryan C McCannon. Studying six general-purpose technologies emerging from war environments, the book claims that much of the U.S.

post-war growth experience can be attributed to them. The reviewer finds that this is not Prof. Ruttan's best work, in part because the underlying research is too casual to support the conclusions by: 2.

A third and more disturbing question is whether a major war, or the threat of major war, will be necessary to mobilize the scientific, technical and financial resources necessary to induce the development of new general-purpose technologies.

The standard "a war gives the economy a boost" argument goes as follows: Suppose the economy is on the low end of the business cycle, so we're in a recession or just a period of low economic growth. When the unemployment rate is high, people may make fewer purchases than they did a year or two ago, Author: Mike Moffatt.

The private economy does a fine job of developing and introducing evolutionary technology, but the author is pessimistic about the capacity of the U.S. political system to provide the necessary public support, absent serious war or the threat of war, for revolutionary technologies that have large payoffs only after a decade or two and for which.

“Is War Necessary for Economic Growth?” is a provocative title. One cannot publish such a title without expecting to be taken seriously – and being expected to provide a substantive answer. If the author succeeds in the former, he fails in the latter. A far more precise title of the book would have been: “Is Major War, or Threat.

FREE PDF Is War Necessary for Economic Growth Military Procurement and Technology Development FREE BOOOK ONLINE. ECONOMIC CONSEQUENCES of WAR on the U.S.

ECONOMY An overview of the macroeconomic effects of government spending on war and the military since World War II. It specifically examines five periods: World War II, the Korean War, the Vietnam War, and the Iraq/Afghanistan Wars, summarizing the effect of financing the warsFile Size: 1MB.

The economics of war can be defined as the study of the allocation of resources, including manpower, natural resources, instruments and agents of production employed for the prosecution of war.

Therefore, people's occupations will change to satisfy the requirements of war, while raw materials, power, buildings and machines will have revised.

Yet, few of us recognize that America’s Economic War is taking place at all. Indeed, fewer still understand the causes of the war, or its impact and potential dangers.

This book explains America’s Economic War in enough detail to gain a true understanding of the extent, scope and impact of this war. It focuses on the real dangers you face. Military Procurement and. of economic growth Is War Necessary for Economic Growth.

Military Procurement and. 3 Huge Recent Economic Developments You May Have Missed. check out my e-book, Everyone Believes It, Most Will Be Wrong. Is War Necessary for Economic Growth?: Military Procurement and. Is War Necessary for Economic Growth. The Best Economics Books of All Time Image by Kevin Dooley (CC BY ) The list is for those with a serious interest in economics, but not necessarily for economics professionals; it contains some books on the principles of economics, but is.

We can answer that by starting before World War II, in Japan. Ready For War. Japan was a country well set up for war, preceding World War II by centuries.

Since the s, the country had developed currency as well as a sophisticated credit market based on its rice trade, essential for supporting a wartime economy.

Is war necessary for economic growth?: military procurement and technology development. [Vernon W Ruttan] -- "This book addresses three questions that have significant implications for the future growth of the United States economy.

War and economic growth --Interchangeable parts and mass production --Military and commercial aircraft --Nuclear energy and electric power --The computer industry --Inventing the Internet --The space industries --Is war necessary. Economic growth means an increase in real GDP – which means an increase in the value of national output/national expenditure.

Economic growth is an important macro-economic objective because it enables increased living standards, improved tax revenues and helps to create new jobs. UK real GDP since Showing sustained a rise in national.

In lieu of an abstract, here is a brief excerpt of the content. July/August Historically Speaking 17 Is War Necessary for Economic Growth. Vernon W. Ruttan It is worth recalling that knowledge acquired in makingweapons played an important role in the Industrial Revolution.

This links nicely to your first book, The Elusive Republic: Political Economy in Jeffersonian America, which takes us back to the years immediately after the Declaration of Independence and examines the Founding Fathers’ attempts to reconcile their republican ideals with economic growth and tell us more.

Drew McCoy is a brilliant writer, and this is a. The economic problem of making war is therefore different for the baker and for the tailor. The international division of labor was developed under the assumption that there would no longer be wars.

In the philosophy of the Manchester School free trade and peace were seen as mutually conditioning one another. IS WAR NECESSARY FOR ECONOMIC GROWTH. INTRODUCTION A major objective in this paper is to demonstrate that military and defense related research, development and procurement have been major sources of technology development across a broad spectrum of industries that account for an important share of United States industrial production.

THE CONCEPT OF ECONOMIC GROWTH Clear and unambiguous definitions are a necessary preliminary to any precise analysis. The literature of the social sciences is a test- surement of Economic Growth”, Tasks of Economic History, Supplement to the Journal of Economic History, VII (), pp.

Living in a largely peaceful world with 2 percent G.D.P. growth has some big advantages that you don’t get with 4 percent growth and many more war deaths.

Economic stasis may not feel very. Although the Japanese economy was severely damaged and dislocated by the bombing/blockade during WW2, important foundations were laid for post-war growth.

The heavy industry sector expanded at the expense of light industry, inflation destroyed the fortunes of the industry magnates and helped create an equitable society. Economic growth means a rise in real GDP; effectively this means a rise in national income, national output and total expenditure.

Economic growth should enable a rise in living standards and greater consumption of goods and services. As a result, economic growth is often seen as the 'holy grail' of macroeconomics. Economic growth can be defined as the increase in the inflation-adjusted market value of the goods and services produced by an economy over time.

It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Growth is usually calculated in real terms - i.e., inflation-adjusted terms – to eliminate the distorting effect of .The role of war in the world economy is complex, yet pervasive.

The shadow of war lies across economic history, influencing its pace and direction, and war continues to both shape economic developments and respond to them. Annotated bibliography. Brandes, Stuart D. Warhogs: A History of War Profits in America. Lexington, KY, " The Rise and Fall of American Growth is likely to be the most interesting and important economics book of the year.

It provides a splendid analytic take on the potency of past economic growth, which transformed the world from the end of the nineteenth century onward Gordon's book serves as a powerful reminder that the U.S. economy.